Local Shopping REIT (The) PLC Proposed requisition of a general meeting (5640N)
27 October 2016 - 5:00PM
UK Regulatory
TIDMLSR
RNS Number : 5640N
Local Shopping REIT (The) PLC
27 October 2016
The Local Shopping REIT plc
The Board of The Local Shopping REIT plc (the Company) announces
that it is in receipt of a communication dated 21 October 2016 from
Mr Duncan Soukup of Thalassa Holdings Ltd, owners (through two
different nominees) of 23.48% of the Company's issued share
capital, indicating his intention to requisition a general meeting
of the Company. No formal requisition has been served on the
Company at this point though.
The stated purpose of the general meeting is the removal of the
existing directors of the Company, Stephen East (the Company's
Chairman) and Nicholas Vetch, and the replacement of them by Mr
Soukup and an associate of his, Mr John Hutchinson.
The Company's Board had previously, at Mr Soukup's request,
offered Mr Hutchinson a Board seat on certain conditions that
preserved the independence of the Board so that other shareholders'
interests could be secured. However, Mr Soukup has now declined
that offer.
Your Board believes that the proposals indicated by Mr Soukup
would be highly detrimental to the interests of shareholders in
general, would destabilise relationships with critical stakeholders
and would be very disruptive of the programme that the Board has in
hand for executing the strategy approved by shareholders.
Enquiries:
William A Heaney
Company Secretary
020 7355 8800
This announcement contains inside information as stipulated
under the Market Abuse Regulation (EU No. 596/2014). Upon the
publication of this announcement via a regulatory information
service this inside information is now considered to be in the
public domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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